Larry Fink, the Chief Executive Officer of BlackRock, the world’s largest asset management firm, has commented on the potential for an exchange-traded fund (ETF) involving XRP.
In a recent interview, FOX senior correspondent Charles Gasparino specifically asked Larry Fink about the prospect of an XRP ETF. This question comes amid the U.S. regulator’s approval of a Bitcoin spot ETF.
XRP ETF Not Definitive Yet
Gasparino inquired about BlackRock’s stance on the possibility of launching an XRP exchange-traded fund in the near future. This curiosity arises, especially since the firm has already submitted for an ETF centered around Ethereum (ETH).
In response, Larry Fink said, “I can’t talk about that.”
?NEW: Here are some key quotes from my interview with @BlackRock CEO Larry Fink on the economy, @BillAckman and the $BTC Spot ETFs.
?"The economy is in a very good position and will get stronger."
?"I believe I could have been more literate when I was talking about ESG .I…
— Charles Gasparino (@CGasparino) January 12, 2024
Reacting to Larry Fink’s remark, members of the XRP community view his response positively. In particular, they see the BlackRock CEO’s neither affirmative nor negative statement as a signal that there is room for consideration, fueling optimism among XRP enthusiasts.
According to Tony Edward of the Thinking Crypto podcast, Larry Fink’s failure to provide a definitive was a cautious approach as a clear yes or no could trigger the XRP market.
Previously, a senior executive at Valkyrie, a firm authorized to list a Bitcoin ETF, suggested the potential emergence of an XRP ETF, citing Grayscale recent reinstatement of XRP.
While the Valkyrie executive expressed uncertainty about Valkyrie filing for an XRP ETF, he underscored that such a move is conceivable, given the unpredictable nature of the financial market.
XRP ETF Not Needed?
Meanwhile, some prominent figures in the XRP community think an XRP exchange-traded fund is irrelevant. Versan Aljarrah, the founder of Black Swan Capitalist, is of this view.
He recently contended that XRP is designed to function as a currency rather than part of an ETF. According to him, crypto spot ETFs are merely a distraction, perceiving it as an open invitation for institutional corruption.